U.S. energy firm GE Vernova (GEV.N) and Germany’s Siemens Energy (ENR1n.DE) are in discussions to supply gas turbines for a $7 billion reconstruction project aimed at reviving Syria’s war-ravaged power sector, according to three sources familiar with the talks.
The project stems from an agreement signed in May between Syria and a subsidiary of Qatar’s Power International Holding (PIH) to construct four combined-cycle gas turbine power plants with a total capacity of 4,000 megawatts, along with a 1,000-MW solar component.
Potential Contracts and Scope
Both GE Vernova and Siemens Energy are being considered for major equipment supply contracts, one source said, though negotiations remain at an early stage and the value of the turbine deals has not yet been determined.
The talks could also expand beyond turbines to include critical power grid infrastructure a key step toward rebuilding Syria’s national electricity network, much of which was destroyed during the country’s 14-year civil war.
Western Companies Re-enter Syrian Market
If finalized, these deals would make GE Vernova and Siemens Energy among the first Western firms to re-enter Syria’s energy sector following U.S. President Donald Trump’s decision to lift most sanctions on Damascus earlier this year.
A Siemens Energy spokesperson confirmed that a local delegation had met Syrian officials: “While no specific agreements or contracts have been made, we are ready to contribute our technical expertise if it can help stabilize a reliable energy supply and support the population.”
GE Vernova, PIH, and Syria’s information ministry did not respond to requests for comment.
Rebuilding a Crippled Energy Sector
Syria’s power grid remains one of the most devastated in the region. Following the rebel-led ouster of former President Bashar al-Assad last year, the country’s new leadership under President Ahmed al-Sharaa has sought to diversify energy partnerships and reduce reliance on Iran.
During his visit to Washington this week, al-Sharaa met with Trump to discuss investment frameworks for reconstruction, including energy cooperation.
In July, U.S. firms Baker Hughes (BKR.O), Hunt Energy, and Argent LNG announced plans to back Syria’s recovery through oil and gas exploration and new power generation ventures.
Outlook
After years of conflict, Syria produces only a fraction of its pre-war electricity output, though recent gas imports from Azerbaijan and Qatar have helped ease shortages.
Separately, UAE-based Dana Gas (DANA.AD) signed a preliminary deal on Wednesday with Syria’s state oil company to evaluate redevelopment of damaged natural gas fields.
Syria’s domestic gas production has fallen sharply from 8.7 billion cubic metres in 2011 to around 3 bcm in 2023 highlighting the scale of the challenge in restoring national energy security.
With information from an exclusive Reuters report.
